Former NBA player Malik Beasley negotiating plea deal in gambling scheme case

Former NBA player Malik Beasley, indicted in June for alleged participation in a gambling scheme, is negotiating a plea agreement with the Department of Justice. Beasley’s attorney told the AP that they are negotiating a plea agreement with federal prosecutors, “with an expected direction in the coming days.”

Beasley pleaded not guilty in July after being indicted alongside former NBA player Ed Davis and four other individuals on federal charges in summer 2024.

Allegations

Prosecutors allege Beasley shared insider information with gamblers and manipulated his on-court performance while playing for the Milwaukee Bucks in 2024 to rig wagers, enrich sports bettors, and clear personal debts. According to the allegations, Beasley under- or over-performed bookmakers’ expectations on points and rebound totals.

Davis faces allegations of funneling insider information to sports bettors, who then placed wagers in the hundreds of thousands of dollars, collecting massive payouts when Beasley hit targeted statistical thresholds.

The federal indictment includes charges of wire fraud conspiracy, bribery in sporting contests, honest services wire fraud conspiracy, and money laundering conspiracy, according to the U.S. Attorney’s Office for the Eastern District of New York.

Financial background

According to the AP, Beasley accumulated millions of dollars in gambling losses and borrowed heavily from Davis. Proceeds generated from the illicit gambling ring were reportedly used to pay down those debts.

ESPN reported in March that a federal judge in New York ruled in favor of Beasley’s former sports marketing agency during a contract dispute, issuing a $1 million civil judgment against him.

According to Spotrac, Beasley earned more than $59.9 million across his 10-year NBA career. He last played for the Detroit Pistons during the 2024-25 season, starting 82 games and averaging 16.3 points per contest, earning $6 million during his final season in Detroit.

If convicted, Beasley faces up to 20 years in prison on the wire fraud conspiracy counts, an additional 20 years on the money laundering conspiracy charge, and up to five years for sports bribery.